Ethical Precious Metals | Sustainable and Responsible Sourcing (2024)

Ethical Gold

The process of mining and using gold will always be a hot topic amongst jewellers and those wishing to use an ethical precious metal in their jewellery. It raises ethical and social concerns, as well as misrepresentation to the general public.

To start, “Dirty Gold” is a big environmental problem, and is in no way easy to solve.

Large-scale gold mining can be extremely environmentally invasive. Small-scale mining has been linked with violence, illegal trading and environmental degradation. It’s very difficult to know where your gold has come from through the regular supply chain. We are doing what we can to improve the situation, lobbying for change and sharing facts to create awareness.

You may have seen the discussion around the terminology of recycled gold, which has connotations of avoiding waste. Precious metals are in fact endlessly refined and reused rather than thrown away! It’s important to know that this is standard practice for the gold supply chain. Every jeweller in the UK ‘recycles’ their offcuts and scraps from their workshop back into a big pot in a refinery.

The refiners work on a large scale, so gold from new mining, gold fromgoldsmith’s work benches and old pieces of gold jewellery are all melted up together and made into new sheets and bars. This generally means that you cannot know where your gold has come from and definitively whether it has been mined in an ethically sound way or not.

We are pursuing a multi-pronged attack to tackle this:

  • As the first independent UK Jewellers to have achieved full Responsible Jewellery Council Certification we are putting pressure on the commercial mines to clean up their act. With the collective buying power of the UK jewellery industry and the RJC we aim to push for change. The gold mining industry has started to clean up its act. It’s not there yet, but there is progress and momentum is building.
  • We were one of the first twenty jewellersworldwideto launch fully certifiedFairtrade gold. Since its launch in 2011, the availability of Fairtrade gold has increased and we’re now able to source Fairtrade gold in both 9 carat and 18 carat alloys and in all three colours: rose, yellow and white.
  • We have been consistently lobbying our metal suppliers to make changes, specifically in being able to provide both recycled metals and Fairtrade gold.
  • In 2021 we made a Pledge withFair Luxury that we would source only recycled or Fairtrade gold bullion.

As a result of our requests, our gold bullion suppliers started to offer newly formed ‘recycled’ gold bullion, that had been refined separately to their standard gold and is traced to ensure it’s from 100% recycled sources. They’ve now transitioned to 100% of their gold bullion being recycled! This means we can now offer recycled metal as our ‘standard’ gold, whether we are handmaking pieces in our workshop or casting them.

Traceability is still an issue for some people, as although the bullion dealers can confidently claim the metal they use is ‘second generation’ and not newly mined, it is still not possible to trace the metal back to source. For the moment, though, what we are terming as recycled is a great place to start your ethical jewellery journey.

Fairtrade gold is, however, fully traceable back to the cooperatives in Peru where it was mined. We’re really proud to offer this as an ethical precious metal and to know that whilst mining has happened, it has happened on a small scale, in a way that supports the miner, their community and the environment. Artisanal and small-scale miners (ASMs) produce 15% of global gold supply, but make up 90% of labour in gold extraction – using this gold can make a real impact on people’s lives.

Another ethical option is to consider reusing your own gold – family jewellery can be melted down and made into a new piece. Whilst this isn’t a perfect process, with potential for tiny bubbles and more expense, or not getting as much gold as you expect, it is a really sentimental option. Imagine a new piece that has a unique history woven through it, ready for future generations to treasure.

Ethical Platinum and Palladium

Platinum and palladium are beautiful but incredibly rare metals; apparently, if you put all the platinum in the world together in an Olympic-sized swimming pool it wouldn’t even cover your ankles!

Platinum and palladium wear better than gold, which means you’re less likely to need maintenance work such as rebuilding claws. Whilst they are energy intensive to mine and refine, the fact that it’s less likely to need reworking in the future means the energy use is reduced over the life of the ring or jewellery.

Palladium is found in many of the same places as platinum and therefore often comes out of the ground when platinum is mined. It’s widely believed that palladium is a more environmentally friendly choice because it’s not mined for its own sake. Before the invasion of Ukraine, a lot of palladium was coming out of Russia. Whilst we now use palladium infrequently in our jewellery, we have sought and received assurances from our suppliers that any palladium that we use is not of Russian origin.

As they are so valuable, platinum and palladium are routinely recovered and efficiently recycled all over the world. Our casting companies use recycled platinum, but as yet there is no guaranteed paper-trail system to prove the platinum’s recycled status. The companies that we buy our metals from are highly reputable, and mostly members of the Responsible Jewellery Council.

We can’t offer certainty of where the platinum in your Harriet Kelsall Bespoke jewellery was mined, or the impact that the original mining may have had. But… we’re as sure as possible that, once it was recycled, it has not caused any harm.

If you’re looking into other ethical precious metals, like with gold it is possible to reuse heirloom platinum jewellery too. However, this process is slightly lengthier as we can’t melt it down and reuse it in our own workshop. Luckily, we have options for you to choose from!

Unfortunately, there is no Fairtrade platinum available as it’s not commercially viable for the miners. If it’s important that your jewellery is ethically sourced and for you to be certain it hasn’t contributed to human rights issues in its lifetime, then we recommend choosing white gold instead. Then you have the choice of Fairtrade metal, which has been freshly mined with a strong ‘mine to market’ paper trail and audit too.

Ethical Silver

Compared to the other metals, silver generally doesn’t take much energy to mine and refine. As much as 75% of the world’s silver production comes as a by-product from mining gold, copper, lead and zinc.

Silver has a low melting point, and this makes it easier to refine and work with which also helps to save energy.

We can source recycled silver bullion to create new pieces of jewellery without any new mining taking place, and although it is not commonly available, we can sometimes work with Fairtrade silver too.

Rhodium Plating

Rhodium plating can be applied to the surface of a white gold ring or piece of jewellery to give it a brighter white colour. It’s important to know plating wears off over time and needs reapplying regularly to maintain the vibrancy. The solution used in this plating process is harmful to the environment if not disposed of carefully, so we like to avoid it where we can. As standard, we love showing off the natural, warmer colours of white gold so you see the tones that can enhance your design ideas. Many of our previous customers fall in love with the natural colourings and end up avoiding rhodium plating altogether or choose platinum for the iconic crisp white look.

If you have any questions, our designers will be happy to talk through any of these ethical precious metal options, simply get in touch.

Ethical Precious Metals | Sustainable and Responsible Sourcing (2024)

FAQs

Ethical Precious Metals | Sustainable and Responsible Sourcing? ›

There are three widely accepted options for responsibly sourced precious metals: Fairtrade, Fairmined, and 100% recycled.

What is responsible sourcing of precious metals? ›

The LBMA issued the Responsible Gold Guidance which sets out the responsible sourcing requirements for these refiners; conformance is mandatory and is independently assured. This offers investors and consumers a high degree of confidence in the provenance and integrity of their gold.

What is the most ethical precious metal? ›

RECYCLED GOLD

For metals such as platinum or palladium, where no initiatives like 'fairtrade platinum' or 'Fairmind palladium' exist, 100% recycled metals are the best option.

What is ethical and responsible sourcing? ›

Also known as responsible sourcing or sustainable sourcing, the practice of choosing suppliers known for their environmental and social impact or sustainability can lead to benefits including increased compliance with laws and codes, improved reputation, and protection from a range of operational risks.

Why is the ethical sourcing of diamonds and metals important? ›

The Social and Environmental Impact

Mining operations in particular can lead to deforestation, water pollution, and hazardous working conditions. Ethical sourcing aims to mitigate these impacts by promoting sustainable practices and ensuring transparency in the supply chain.

What does Warren Buffett say about precious metals? ›

Warren Buffett has been vocal that he feels gold lacks value because it lacks usefulness. A key principle of value investing, as Buffett practices it, says you should only invest in things that serve some practical purpose. Silver has myriad uses, and Buffett has invested nearly $1 billion in it.

Can gold be ethically sourced? ›

Single Mine Origin (SMO) works with selected World Gold Council accredited mines and other independent bodies to extract, refine and sell responsibly sourced gold that can be traced every step of the way, while providing vital social, environmental and cultural support to the communities they operate in.

What gemstones are ethically mined? ›

  • Ethical Gems 101.
  • Gemstone Facts.
  • Sapphires.
  • Tanzanian and Malawi Rubies.
  • Emeralds.
  • Garnets, Tourmaline and Tanzanite.
  • Aquamarines.

How to know if jewelry is ethically sourced? ›

Look for Jewelry Certifications that Ensure Sustainability

Fairtrade — This certification ensures there are good working conditions, living wages, and sustainable environmental activities. The Kimberley Process — This is a UN resolution. It's an international standard for diamonds.

What is the number 1 precious metal? ›

Gold and platinum definitely count as contenders for the number one spot. Silver may be more useful industrially, but it is somewhat less rare, so less precious. Rhodium, iridium and ruthenium are perhaps the rarest, roughly 1/5 as common as platinum.

What are the risks of ethical sourcing? ›

“Ethical sourcing” definition

The further you go down your supply chain, the less visibility you have over ethical risks, like poor working conditions and child labour. So, it's important to have good visibility of each phase of your supply chain and have an ethical sourcing policy to guide your procurement activities.

What is an example of ethical sourcing? ›

However, if a company chooses a t-shirt supplier that is cognizant of the negative impact of clothing materials such as polyester, nylon and acrylic have on the environment and opt to use silk, organic cotton, linen, or hemp instead – the supplier and company are exhibiting ethical sourcing.

How do you ensure responsible sourcing? ›

Businesses can ensure responsible sourcing through several practices.
  1. Comply with Existing Laws and Regulations. ...
  2. Adhere to Ethical Purchasing Practices. ...
  3. Encourage Suppliers to Develop Their Own Standards.

Are diamonds still unethically sourced? ›

99% of natural diamonds are considered conflict-free. However, most diamonds marketed as “conflict-free” are not ethically sourced. A lack of accountability in the diamond supply chain makes it difficult to determine that a stone is ethically sourced.

Can you buy ethically sourced diamonds? ›

Natural diamonds can indeed be ethically sourced, adhering to stringent international standards that ensure responsible mining and trading.

Do ethically sourced diamonds cost more? ›

A truly ethical diamond like a Canadian diamond or mine to market stone will generally cost more as the price reflects the fair pay of workers all along the supply chain and strict environmental practices.

What is responsible sourcing in mining? ›

Responsible sourcing programmes (RSPs) (p12): Provide assurance that organisations meet social and environmental performance standards. The mining industry typically features in an RSP as one of the first players in the value chain.

Who controls the precious metals market? ›

Here is a list of U.S. government entities that are involved with or are relevant to the precious metals industry. The Commodity Futures Trading Commission or CFTC is an independent U.S. government agency that was founded in 1974 for the purpose of regulating the U.S. derivatives markets.

What is responsible sourcing of materials? ›

Responsible sourcing is demonstrated through an ethos of supply chain management and product stewardship, which encompasses social, economic and environmental dimensions.

Who regulates precious metals? ›

The United States Commodity Futures Trading Commission (CFTC) is the federal agency that regulates the trading of commodity futures and options contracts in the United States and takes action against firms suspected of illegally or fraudulently selling commodity futures and options.

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